For its 4QFY2023, its revenue was up 7% y-o-y to $70.5 million and net property income was up 4% y-o-y to $57 million, mainly due to higher contributions from Hilton Singapore Orchard (HSO).
Rachel Tan and Derek Tan of DBS Group Research have kept their "buy" call and 35 cents target price for OUE (SGX:LJ3
) REIT, as they expect recovery to continue and therefore further upside for investors.
For its FY2023 ended Dec 2023, the REIT reported a distribution per unit of 2.09 cents, down 1% over the preceding FY2022, as the REIT manager chose to retent a higher quantum of working capital.
